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Commission welcomes political agreement reached on InvestEU

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The Commission welcomes the political agreement reached yesterday evening between the European Parliament and EU member states in the Council on the InvestEU Regulation. The InvestEU Programme (2021-2027) will provide the EU with crucial long-term funding, crowding in private investments in support of a sustainable recovery and helping build a greener, more digital and more resilient European economy. It will benefit from an EU budget guarantee of €26.2 billion, which will be distributed across four policy windows: Sustainable Infrastructure; Research, Innovation and Digitisation; SMEs; Social Investment and Skills. Member states will be able to implement part of their plans under the Recovery and Resilience Facility via the InvestEU programme and InvestEU Advisory Hub.

At least 30% of the investments under InvestEU will contribute to meeting Union objectives on climate action. Economy Commissioner Paolo Gentiloni said: “This is a good agreement that opens the way to more financing for sustainable infrastructure, research and innovation, SMEs and skills. InvestEU will contribute to Europe's economic recovery and to the climate and digital transitions. Crucially, member states will be able to use InvestEU as a tool to implement their Recovery and Resilience Plans.”

InvestEU will be implemented in partnership with the European Investment Bank (EIB), the European Investment Fund (EIF) and other implementing partners, notably the European Bank for Reconstruction and Development (EBRD) and national promotional banks and institutions (NPBIs) in the various member states. Following the political agreement, the European Parliament and the Council will have to approve the finalized text to allow the Regulation to enter into force and for InvestEU to become operational. A press release with more information is available here.

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